ADB Full Form is Asian Development Bank
What is the full form of ADB
ADB: Asian Development Bank
ADB stands for Asian Development Bank. It’s a indigenous development bank that’s Asian in character. It was established to reduce poverty and foster profitable growth and cooperation in Asia and the Pacific. It assists in the socio-profitable development in member countries by furnishing loans, subventions and specialized backing. It has 67 members, 48 of which are from Asia and Pacific region. It’s headquartered at Mandaluyong, Philippines and as of July 2017, Takehiko Nakao is the chairman of ADB.
Areas of Focus
ADB operations give emphasis on the ensuing areas
Finance Sector development
The idea of Asian Development Bank conceived in the early 1960s. Latterly, a resolution was passed at the first Ministerial Conference on Asian Economic Cooperation in 1963 to establish the ADB.
ADB Full Form
On 19 December 1966, ADB was established with 31 members and Takeshi Watanabe as its first President. In the morning, ADB was concentrated on food product and pastoral development.
In 1970, ADB’s first bond issue worth$16.7 million issued in Japan.
In 1974, Asian Development Fund was established to give low- interest loans to the poorest member countries.
In 1982, it opened its first field office in Bangladesh to come closer to the people in need.
Inmid-1997, during severe fiscal extremity in the region, it started systems to strengthen the fiscal sector, i.e. it approved its largest single loan worth$ 4 billion to the Republic of Korea.
In 2004, it spent further than $800 million for the recovery of areas hit by Tsunami in Sri Lanka, India, Indonesia and Maldives.
In 2008, it launched a new long- term strategy frame’ Strategy 2020’to respond to the changing requirements of the region.
In 2014, a quiz review of the? Strategy 2020? was released and colorful organizational changes were introduced to ameliorate the business processes and to come stronger and better.
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